CARIGALI-TRITON MAKES THIRD GAS DISCOVERY.

DALLAS--(BUSINESS WIRE)--July 16, 1996--Triton Energy announces that Carigali-Triton Operating Company (CTOC) has discovered a third natural-gas field on Block A-18 in the Malaysia-Thailand Joint Development Area (JDA) in the Gulf of Thailand.

This is the third discovery well and the fifth successful well drilled on Block A-18 by CTOC.

The well, Bulan-1, was tested at a combined daily flow rate of 36 million cubic feet of gas and 123 barrels of condensate. The well was flow tested during three drill stem tests between 4,044 and 6,842 feet through choke sizes ranging from 56/64-inch to 96/64-inch. The condensate ranged from 39 to 53 degrees API gravity.

"It is gratifying to discover a third gas field on Block A-18," said Nick De'Ath, Triton Senior Vice President, Exploration. "This hydrocarbon-rich area of the Gulf of Thailand has great potential, and we look forward to working with our partner, Petronas Carigali, and the Malaysia-Thailand Joint Authority on a fast-paced development program."

The Bulan-1 is located about 7 kilometers [km] (4.5 miles) west northwest of the first well CTOC drilled on the block, the Cakerawala-1A. The Bulan-1 was drilled in approximately 180 feet of water to a total depth of 7,140 feet (2,175 meters). The primary objectives of drilling the well on this previously untested structure were to explore the normally pressured shallow zones between approximately 4,000 feet (1,220 meters) and approximately 6,400 feet (1,950 meters) and the intermediate zones, which exhibit increasing pressure and temperature, from 6,400 feet (1,950 meters) to total depth.

In late 1995, CTOC completed a three-dimensional (3-D) seismic program over the central portion of Block A-18, including the structure on which the Bulan-1 and Cakerawala wells were drilled. Real-time data-processing on board the survey vessel of the 620-square-km (239-square-mile) program has expedited data acquisition and processing. Early completion of the 3-D program facilitated the drilling of the Bulan-1.

Drilling should begin soon on another exploratory well on Block A-18, the Bumi-1, which will be drilled by the same semisubmersible rig that drilled the Cakerawala-3 well, where testing is nearing completion. The Bumi-1 will explore a fourth structure about 14 km (9 miles) east of the Cakerawala Field and adjacent to the Suriya Field. The rig used to drill the Bulan-1 is being moved to Suriya, where it will drill an appraisal well.

Initially, CTOC is developing the Cakerawala Field on Block A-18, where three successful gas wells have been drilled. Plans call for a gas-sales contract and a field development plan to be in place by year-end 1996.

Block A-18, which covers 290,590 hectares (726,474 acres), is located about 450 km (280 miles) from Kuala Lumpur, Malaysia, and 750 km (465 miles) from Bangkok, Thailand, in the northern Malay Basin.

CTOC, the operator of Block A-18, is jointly owned by Petronas Carigali (JDA) Sdn. Bhd., an exploration and production subsidiary of Petronas (50% interest), and a subsidiary of Triton (50% interest).

Triton Energy Limited (NYSE: OIL) is a Dallas-based international oil and gas exploration company primarily focused on high-potential prospects around the world. The Company has participated in several major discoveries, including the Cusiana and Cupiagua oil fields in Colombia, considered to be the Western Hemisphere's largest oil find since Alaska's Prudhoe Bay, and the Cakerawala gas field in the Malaysia-Thailand Joint Development Area in the Gulf of Thailand. In addition, Triton has exploration activities under way in Argentina, China, Colombia, Ecuador, Guatemala, Italy and Oman, and is negotiating oil and gas opportunities in other countries.

Certain statements in this news release regarding future expectations and plans for international oil and gas exploration and development, including the negotiation and execution of a gas-sales agreement and implementation of a field development plan, may be regarded as "forward-looking statements" within the meaning of the Securities Litigation Reform Act. They are subject to various risks, such as the inherent uncertainties in interpreting engineering data relating to underground accumulations of oil and gas, which are discussed in detail in the Company's SEC filings, including the Annual Report on Form 10-K for the year ended December 31, 1995. Actual results may vary materially.

CONTACT: Triton Energy Limited, Dallas

W. Greg Dunlevy, Crystal C. Bell

or Lauren Childress, 214/691-5200